Cheetah Medical's diagnostic tech that helps measure blood flow has drawn in some investor love. The Newton, MA, company said it pulled in $9 million in new financing to help advance an international rollout.
Chris Hutchison, Cheetah's CEO, said in a statement that the funding will help the company expand its sales and marketing efforts both in the U.S. and overseas. He's been at the company just under a year, and has tried to build up its medical device industry know-how by recruiting execs from places including Boston Scientific ($BSX) and Covidien ($COV), the company said.
These are different times, so a fairly large investor syndicate took part in a relatively small round--a move that manages risk, but also spreads the benefit around to more parties. Fletcher Spaght Ventures led the round, but Springfield Investment Management, MVM Life Science Partners, Robert Bosch Venture Capital and Ascension Health Ventures also participated.
Previously, Cheetah raised $14.5 million in financing over the summer.
They're all focused on Cheetah's Nicom Hemodynamic Management System, a noninvasive device designed to help maintain the blood flow balance in critically ill patients, using the company's "proprietary bioreactance technology."
Cheetah said it hopes to build its signature product up in the market so it becomes the standard of care.
- here's the release
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